At its meeting today, the Board of Directors of Brødrene Hartmann A/S approved the Group's quarterly accounts for the period 1 January - 31 March 2002 (unaudited). The quarterly accounts were prepared in accordance with the provisions of the new Danish Financial Statements Act, and the opening balance of the quarterly accounts has been adjusted accordingly, cf. the separate paragraph below and annex 3.
Asger Domino, President & CEO, is available for questions on tel. +45 45 87 50 30.
The 1st quarter at a glance:
Turnover and operating profit for 1Q 2002 were on a par with expectations.
Turnover came to DKK 374 million, unchanged from the year-earlier level. This figure includes an 11% increase from Egg & Fruit Packaging and an expected decline in turnover in South America.
Operating profit (EBIT) dropped approx. 18% from 1Q 2001 to DKK 31 million. As expected this is attributable to developments in South America.
Net profit after tax thus came to DKK 15 million against DKK 21 million in 2001.
The quarterly report was prepared in accordance with the provisions of the new Danish
Financial Statements Act and new accounting guidelines.
Hartmann's expectations are unchanged and include an operating profit for the full year (EBIT) of DKK 110-115 million, a profit after tax in the range of DKK 55-60 million, and a 2% increase in turnover to approx. DKK 1,450 million. However, this requires - as also mentioned in the annual report 2001 - a significant improvement of the results in Brazil.
BRØDRENE HARTMANN A/S
|
Mogens Petersen |
Asger Domino |
|
Chairman of the Board |
President & CEO |
The full report including tables can be downloaded from the following link:
